One of many important tasks associated with being a plan sponsor is selecting an employee benefit plan audit team. Plan sponsors are cautioned against falling into a checklist mentality where the basic goal is completion of the employee benefit plan audit itself, rather than conducting due diligence when selecting an audit partner.
There are important questions to ask when determining the quality of an existing or prospective external auditing firm. Questions that give you more insight into their:
- Education + Training
- Experience
- Team
- Certifications
- Security + Efficiencies
To assist you in performing your due diligence, the following is a list of questions to ask your employee benefit plan auditors to ensure you undergo an audit that results in an efficient and effective experience.
Download our checklist to learn more.